The present invention describes the production of a novel binaphthalene compound produced during the fermentation of a fungal organism identified as Chrysosporium meridarium. The novel compound resembles xanthomegnin, however, the novel compound possesses significant structural features which readily differentiate it from any known prior art compounds.
According to the present invention, the novel compound has been discovered to have potent antiparasitic, insecticidal, and anthelminthic activity against organisms which effect human and animal health.